Inverness Counsel LLC NY Lowers Stock Holdings in Ecolab Inc. (NYSE:ECL)

Inverness Counsel LLC NY trimmed its holdings in shares of Ecolab Inc. (NYSE:ECL) by 8.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 8,955 shares of the basic materials company’s stock after selling 810 shares during the period. Inverness Counsel LLC NY’s holdings in Ecolab were worth $1,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Solstein Capital LLC bought a new stake in Ecolab in the 1st quarter worth approximately $28,000. Concord Wealth Partners grew its position in shares of Ecolab by 71.4% during the 1st quarter. Concord Wealth Partners now owns 156 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 65 shares during the period. Kistler Tiffany Companies LLC boosted its holdings in Ecolab by 89.5% in the 1st quarter. Kistler Tiffany Companies LLC now owns 180 shares of the basic materials company’s stock worth $39,000 after buying an additional 85 shares during the period. Newfound Research LLC bought a new position in Ecolab in the 2nd quarter worth $41,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in Ecolab in the 2nd quarter worth $42,000. Institutional investors own 72.29% of the company’s stock.

Ecolab stock traded down $0.82 during trading hours on Wednesday, reaching $222.74. 13,784 shares of the stock were exchanged, compared to its average volume of 991,874. The stock has a market cap of $63.72 billion, a P/E ratio of 61.42, a P/E/G ratio of 3.54 and a beta of 1.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.41 and a current ratio of 1.91. Ecolab Inc. has a 52-week low of $181.25 and a 52-week high of $231.25. The firm’s 50 day moving average is $220.01 and its 200 day moving average is $217.08.

Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, July 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.04. Ecolab had a net margin of 8.66% and a return on equity of 20.14%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts expect that Ecolab Inc. will post 5.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Tuesday, September 14th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.86%. Ecolab’s dividend payout ratio is currently 47.76%.

In other Ecolab news, EVP Timothy P. Mulhere sold 20,194 shares of Ecolab stock in a transaction on Friday, August 20th. The shares were sold at an average price of $221.40, for a total value of $4,470,951.60. Following the completion of the transaction, the executive vice president now owns 21,844 shares of the company’s stock, valued at $4,836,261.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Scott D. Kirkland sold 2,800 shares of the firm’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $217.67, for a total value of $609,476.00. Following the completion of the sale, the senior vice president now owns 6,122 shares in the company, valued at $1,332,575.74. The disclosure for this sale can be found here. Insiders have sold 44,460 shares of company stock worth $9,860,974 in the last quarter. Insiders own 1.05% of the company’s stock.

Separately, Royal Bank of Canada assumed coverage on shares of Ecolab in a research note on Thursday, September 2nd. They issued an “outperform” rating and a $260.00 price target on the stock. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $232.60.

Ecolab Company Profile

Ecolab, Inc engages in the provision of products and services in the field of water, hygiene, and energy. It operates through the following segments: Global Industrial, Global Institutional & Specialty, Global Energy & Life Science, and Other. The Global Industrial segment consists of the water, food and beverage, paper, and downstream operating segments.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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